Netik, the global financial data management and reporting vendor, is pleased to announce that Aberdeen Asset Management (Aberdeen) has successfully implemented Netik InterView and Netik Information Portal to deliver a global enterprise wide view for reporting on their outsourced accounting and internal data.
The Netik InterView solution consolidates global data - transactions and valuations - from Aberdeen's third party administrators (TPA). This is combined with other data from Aberdeen's in-house systems' to form a rich locally available data store that is totally independent of the TPAs. Internal departments have controlled access to the data via Netik Information Portal for historical reporting and interactive on-line data mining. Netik InterView also enables this data to be distributed to downstream consuming systems.
Aberdeen chose Netik after a rigorous selection process that included a proof of concept which encompassed 'the proving' of both the data repository and user portal for reporting. With Netik's platform, internal users benefit from instant on-line reporting through the web portal and can easily create new reports without having to put in a new request to the IT dept or TPA.
Richard Large, Global Head of Business Systems at Aberdeen said, "The implementation process was straightforward. We are now using the solution across all our offices and are interacting with multiple outsource providers. One of the major benefits of Netik's solution is that it allows us to easily access and report on our data without having to go back to the outsourced accounting system directly. We are updating the data warehouse throughout the day to service our business in the three global regions and the Netik solution enables us to achieve this efficiently and effectively, providing a single view across the data."
Rob Flatley, CEO and President, Netik commented "For buy-side firms, such as Aberdeen, who have outsourced a number of significant processes from their middle and back offices, we are seeing a need to implement their own local data store to counter the loss of their primary accounting data to outsourcers. The local store delivers the ability to efficiently manage multiple outsource providers. As well as providing a store fofor thee outsourced accounting data, it consolidates this with information from other internal systems to give an enterprise wide data view that is readily accessible for analytics and reporting. Netik has been successfully implemented at Aberdeen and at several other top tier firms."